Sie sind auf Seite 1von 25

BA 101 Introduction to Business

1. Fundamentals of Business and Economics

What is a Business?
Knowledge

For-Profit
Resources
Goods Services Job creation Tax-base Investments

Non-Profit
Education Libraries Museums Social services Charities Capital

Entrepreneurs

Categories of Business
Producing Goods Providing Services

Capital Intensive

Labor Intensive

Service Sector Growth


More disposable income


Lifestyle and demographic changes

Complex goods and technologies


Need for professional advice

Low barriers to entry

What is Economics?
Microeconomics

Macroeconomics

Economic System

Factors of Production
Resources Capital Entrepreneurs

Knowledge

Economic Systems

Free-Market System

Planned System

Capitalism

Mixed Capitalism

Socialism

Communism

Privatization

Microeconomics

The Forces of Supply and Demand

Supply and Demand

Supply: Specific quantity of a product that the seller is able and willing to provide Demand: Buyers willingness and ability to purchase products

Understanding Demand
Higher Lower

Consumer Income

Consumer Preferences

Price

Price of Substitute Products


Advertising and Promotion Spending

Price of Complementary Goods


Expectations About Future Prices

Demand

Higher

Lower

Understanding Supply
Less Supply More

Variables

Goods and Services

Variables

Lower

Price

Higher

The Relationship between Supply and Demand

Variables that affect supply and demand change simultaneously and continually, thus creating changes in the equilibrium price. Both production levels and prices reflect the interaction of supply and demand.

Macroeconomics

Issues for the Entire Economy

Free-Market Competition

Pure Competition

Monopoly

Oligopoly

Monopolistic Competition

Competitive Advantage

Price
Speed

Quality
Service Innovation

The Role of Government

Fostering competition
Regulating industries

Deregulating industries
Protecting stakeholders rights

Contributing to economic stability

Fostering Competition
Antitrust Legislation Mergers and Acquisitions

Regulating and Deregulating Industries


Fair Competition

Business Ethics
Government Regulation Free Competition

Working Conditions Public Safety

Contributing to Economic Stability


Economic Expansion

Recovery Fiscal Policy Business Cycle Recession Revenue and Spending Interest Rates Business Cycle Monetary Policy

Economic Contraction

Major Economic Indicators


Housing Starts Durable-Goods Orders

Interest Rates
Unemployment Statistics

Measuring Price Changes


Inflation Purchasing Power Deflation

Consumer Price Index (CPI)

Measuring National Output


Dollar Value
Final Goods and Services Domestic Businesses Foreign-Owned Businesses Overseas Operations

Gross Domestic Product (GDP)


Yes Yes Yes No

Gross National Product (GNP)


Yes Yes No Yes

Ten Economic Performance Indicators


Prime Interest Rate Housing Starts Labor Productivity Rate Rate of Inflation Consumer Price Index Unemployment Rate Durable-Goods Orders Balance of Trade Producer Price Index Gross Domestic Product

What does the future hold?

The aspect of terrorism China in the global economy Work mobility Deficits in budget and balance of trade E-business

Challenges of Globalization

Quality products and services Changing needs of customers Managing a small business Globalization and workforce diversity Ethics and social responsibility Technology and electronic commerce

Das könnte Ihnen auch gefallen